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Mortgage Intrest Rate 3.1 or 4.3????HELP.....

fiestaman · 2010-04-27 16:04:32

Hi were just about to draw down a mortgage,first draw down is for the site at €48000. Then the next payment will be for €30000 for the building of the floor and walls and stuff. Thats all we will be drawing down in the first year. Problem is the rate were getting is 3.1 fixed for 2yrs or we can get 4.3 for 5yrs with BOI…

27-04-2010 4:04pm

#1

fiestaman

Registered Users, Registered Users 2 Posts: 1,174 ✭✭✭

Join Date: December 2007

Posts: 823

Hi were just about to draw down a mortgage,first draw down is for the site at €48000. Then the next payment will be for €30000 for the building of the floor and walls and stuff. Thats all we will be drawing down in the first year. Problem is the rate were getting is 3.1 fixed for 2yrs or we can get 4.3 for 5yrs with BOI this is. Does anybody think like me and rekon interest rates will be above 4% in 2yrs time. Should i fix for 5yrs??

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